The speed of a quote request comes down to the data: if this list is pulled together, insurers can price quickly and accurately. No special category personal data is needed for it – the business data (revenue range, claims history, security setup) is handled confidentially, solely for the quote request. Once.
In brief:
- Five data areas: premises, asset-group values, activity, claims history, security.
- Accurate data produces an accurate premium – a guess costs more, or gets you less.
- The best starting point for filling this in is the site inventory.
The premises and the values
- ☐ Exact address of the premises; owned or leased?
- ☐ Building(s): floor area, structure, year built, roof type and condition, special features.
- ☐ Asset-group values: building (reinstatement cost), machinery and equipment (today's replacement value), stock (typical and peak level).
- ☐ For leased premises: the value of tenant improvements.
- ☐ The value of off-premises equipment (deployed, in transit), if any.
Operations and history
- ☐ Exact description of the activity (the risk class depends on this).
- ☐ Approximate annual revenue (a reference figure for several types of cover).
- ☐ Claims history: losses over recent years – when, what, and for how much (as far as known).
- ☐ Shift pattern, night-time presence, seasonality.
- ☐ Financed equipment (leasing, loans) – for the endorsement requirement.
Security and requirements
- ☐ Security: lock level, alarm (remote monitoring?), cameras, guarding.
- ☐ Fire safety: extinguishing equipment, inspections, fire alarm.
- ☐ Scope of cover wanted: the basics (fire, storm, water damage, burglary) + add-ons under consideration (glass, machinery breakdown, electronics, off-premises cover, cash).
- ☐ Deductible preference: how large a loss the company can absorb in-house – decision framework.
- ☐ Existing policy (if any): for comparison – policy review.
From this data, the process continues with the criteria-table comparison. If it's easier, we can pull all of this together at the survey – that's the fastest route.
Have a question specific to your premises? Book a free 20-minute site survey consultation →
This article is for information purposes only and contains general information; it does not constitute an offer or insurance advice. The precise content of insurance contracts is determined by the insurers' policy terms in force at any given time.
